Q:

What are some things to keep in mind when leasing a truck?

A:

Quick Answer

Some things to keep in mind when leasing a truck include being aware of its residual value, annual mileage and the interest rate. Each of these factors contribute to setting the monthly price of a lease.

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Full Answer

The residual value focuses on how much the truck will be worth on the end of a lease. This helps narrow down how much to pay per month on the lease.

Annual mileage is one of the central factors in a lease. Most vehicles will be set to be driven less than 12,000 miles a year. If more miles are required, mention it before signing the contract.

It is also important to negotiate a leasing rate that fits within the budget. However, most interest rates are set according to the credit score of the leaser.

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